PM rules out third term, but makes robust defense of economic policies

New Delhi: Dr Manmohan Singh today ruled out being Prime Minister for a third term should his party the Congress win the general elections due by May, but made a robust defense of his UPA government's performance in the last 10 years. (Never thought of resigning: 10 big quotes from PM at presser)

He promised at his first press conference in three years, that "India is set for better times" and that "its growth momentum will revive" as the "cycle of global economic growth is turning for the better." (Read PM's opening remarks)

Dr Singh, who has been criticised for his government's handling of the economic slowdown, said, "We should not focus overly on the short term...even if we include the years of slowdown, the rate of growth achieved in the past nine years, is the highest for any nine-year period." (Highlights of PM's presser)

He stressed that there were fewer poor people now  and underscored that his government had made the growth process more socially inclusive, listing "farmer friendly policies" that the Congress-led UPA hopes will help it win a third straight term at the Centre. (Will be disastrous to have Modi as PM, says Manmohan Singh)

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Dr Singh said his party would learn from reverses in recent elections and admitted that price rise and inflation could have been a factor in the Congress' humiliating defeat in state elections last month.

But he denied that his government had been mired in a policy paralysis, saying, "Reform is not an event. It is a process. So long as we are in power we will continue to push the cause of reform and if circumstances permit." (Believe we are set for better times, says PM)

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Ahead of the presser, his UPA government released data to show that it has performed better in its two terms than the BJP-led NDA government of Atal Bihari Vajpayee that it succeeded.